FTSE 100 Moderately Higher; Kingfisher Plunges On Weak Results

(RTTNews) - U.K. stocks are moderately higher around noon on Tuesday with investors digesting a slew of earnings news and awaiting clarity on U.S. tariffs.

There is still some uncertainty about Trump's next steps. The potential risk of secondary tariffs on countries importing oil from Venezuela, is adding more complexity to the trade dispute.

The benchmark FTSE 100 is up 71.22 points or 0.81% at 8,709.23 at noon.

Segro is rising nearly 4%. Weir Group is up 2.6%. Anglo American Plc., Shell, Informa, St. James's Place, Hikma Pharmaceuticals, Persimmon, IAG, Pearson, GSK, Howden Joinery, Auto Trader Group, Reckitt Benckiser and Prudential are gaining 1.5 to 2.3%.

Bellway Plc. is gaining 3.5% after reporting a 19.9% increase in pre-tax profit for the first six months, while revenue for the period grew by 12.3% from the same period last year.

Smiths Group Plc shares are up 1.5% after reporting pre-tax profit of 228 million pounds in the first six months of fiscal 2025, higher than 171 million pounds in the same period last year. Headline profit before tax rose to 256 million pounds from 228 million pounds a year ago.

Looking ahead, the engineering company reaffirmed its fiscal 2025 guidance of 6 to 8% organic revenue growth and margin expansion of 40-60 bps. The second half outlook is supported by good order book visibility.

Compass Group, Prudential, M&G, Glencore, BP, Schrodders, Barclays Group, Convatec Group and Smith & Nephew are also notably higher.

Kingfisher is plunging nearly 14% on weak results. Kingfisher reported fiscal 2024/25 statutory pre-tax profit of 307 million pounds, compared to 475 million pounds, last year. Earnings per share was 9.9 pence compared to 18.0 pence. Adjusted pre-tax profit was 528 million pounds, down 7.0%. Adjusted earnings per share was 20.4 pence compared to 21.6 pence.

UK retail sales declined sharply in March amid weaker confidence, the Distributive Trades survey results from the Confederation of British Industry showed on Tuesday.

The retail sales balance fell to -41% in March from -23% in February. The balance was worse than forecast of -28%. This was the sixth consecutive fall.